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Oriole, Inc., has collected the following information on its cost of electricity: Machine Hours Total Electricity Costs January 510 $240 February 540 $300 March 350
Oriole, Inc., has collected the following information on its cost of electricity:
Machine Hours | Total Electricity Costs | ||||
January | 510 | $240 | |||
February | 540 | $300 | |||
March | 350 | $190 | |||
April | 440 | $200 | |||
May | 670 | $260 | |||
June | 710 | $350 | |||
July | 300 | $170 | |||
August | 500 | $260 | |||
September | 220 | $121 | |||
October | 740 | $320 | |||
November | 840 | $400 | |||
December | 600 | $300 |
Using the high-low method, compute the variable cost of electricity per machine hour. (Round unit cost to 2 decimal places, e.g. 52.75.)
Variable cost is $.___ Per machine hour.
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